Delivering you the very best money tips, news, and how-to's in Canada every single week. Wondering how to break up with your bank, how to save thousands on your mortgage, or how the latest economic news affects you? You're in the right place.
Say goodbye to the penny, hello to more cross border shopping and anyone over 54 should get ready to wait longer for their old age security benefit. The Federal Government has delivered a budget that can be described as slow and steady, with some unique changes weaved in. Finance Minister Jim Flaherty is cutting $5.2 billion in spending over the next 3 years in hopes that Canada can dig itself out of deficit by 2015.
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It’s believed that Albert Einstien once said “Insanity is doing the same thing over and over and expecting different results”. It’s not the clinical definition, but I think it relates well to the current actions, by the European Union (EU), International Monetary Fund (IMF) and European Central Bank (ECB), to lift Greece from its debt woes.
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Financial Literacy is a big problem across Canada with many young people unable to understand even basic skills like, what does it mean to save, how do you open a bank account and how much do everyday items cost. Money knowledge starts at home. But when should parents start talking to their kids about money. In my opinion parents should have the “money talk” as soon as they feel their kids are ready to have the “sex talk”. Here are some of my recommendations on teaching kids about money.
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March is fraud prevention month. It’s an annual initiative to bring attention to what is a growing problem in Canada according to agencies like the Canadian Anti-Fraud Centre and Financial Consumer Agency of Canada (FCAC). Fraudsters are aggressively hunting for victims online thanks to the growing popularity of social media sites, unsecured public Internet access points and online activities like shopping, buying and selling, dating and gaming. If you don’t take the proper precautions, a fraudster can build a false identity that has the likeness of you.
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Greece is becoming that annoying relative that just won’t go away. You know the cousin that comes to stay for a few weeks until they “get on their feet.” But months later you’re still waiting for the bathroom in the morning because they’re in the shower. Greece is Germany’s destitute cousin and German Chancellor Angela Merkel must have real patience to wait day after day to see if all the efforts to help her poor cousin Greece will pay off.
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